Tough times hit home

Plans for the West Village shopping center on Barnes Road have fallen victim to the global recession, according to Polygon VP Fred Gast. “We’re continuing to work on finding tenants for the project,” said Gast. “But retailers are pulling back all over the country and they’re just not ready to commit to our center.”

Even the assisted living facility that was to have been built by Aegis is on hold for the time being. Gast notes, “We have the land ready for them, but they’ve decided to hold off on building the facility for the time being. We’re not sure when it will resume.”

Big Al’s, the bowling and entertainment center that was going to be the anchor of the center, decided instead to locate in the south end of Beaverton at Progress Ridge, joining New Seasons Market and Cinetopia, a luxury theater.

Several of the largest businesses in Cedar Mill are facing losses or declining profits, including ESI which has announced additional layoffs, and Columbia Sportswear which has shelved plans for retail expansions.

Business is slow for local retailers, although most continue to be optimistic in the long run. Most of us still have our jobs, and if we’re not as anxious to spend everything we make, maybe that’s not such a bad thing. Advisors tell us we should be saving from 10-20% of our income to maintain a healthy economy. And remember, when you do buy, shop locally and keep your dollars in our local economy!

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